Bahrain-based Islamic investment bank, GFH Financial Group has revealed its plan of spinning off its infrastructure and property assets and forming a new company that will specialize in investments focusing on accelerating growth and development of sustainable infrastructure assets across the Gulf region and other global markets.
The new company, Infracorp, will be managing a portfolio of about $3 billion of infrastructure assets including land in the Gulf, North Africa and South Asia.
The company’s key focus will be on investments in developing communities and funding logistics and technologies that support sustainability and renewables as well as social infrastructure assets across the education and healthcare sectors.
Hisham Alrayes CEO – GFH
“The launch of Infracorp has been in response to the significant need and opportunity for private sector investment in the development of sustainable infrastructure as global economies transition to becoming more equitable and socially and environmentally conscious. Unprecedented levels of capital are needed to both upgrade and develop sustainable foundations and Infracorp is well placed to put its capital, insight and ethos into investments that support sustainable growth.”
GFH has a strong investment portfolio that spans the Middle East, the US, the UK and Asia in various sectors such as healthcare, education and logistics. Spinning off its infrastructure assets will enable GFH to focus more on financial assets while allowing Infracorp to manage and deliver returns from infrastructure and real estate assets, which have a longer investment cycle than banking activities.
The company plans to list Infracorp on a GCC exchange over the next 24 months and issue green Sukuk to raise more funds and create even greater value and offer a unique opportunity for investors.
In the third quarter of 2021, GFH more than doubled its net profit on an annual basis, underpinned by a strong performance in the group’s business lines.
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